Icelolly books £2m in financing from Silicon Valley Bank


UK-based holiday price comparison site said it has has received £2m in venture debt financing from Silicon Valley Bank.

The award-winning Leeds-based travel brand said the facility will be used to fuel further growth, including strategic investments in icelolly’s sales and marketing activities.

The financing will enable icelolly to significantly boost its brand awareness with consumers through various channels online and offline.

Investment in people

It also expects to invest in its team with further hires following Simon Lloyd’s recent appointment as chief marketing officer, having held a number of executive roles with leading British brands including AXA, Superdry, BBC and Virgin Atlantic, and the appointment of Elliot Muscant, the co-founder and managing partner of marketing agency Open Partners and former ceo of Dentsu Aegis and md of MediaVest Manchester, as non-executive advisor.

Growing brand

The partnership with icelolly further supports SVB UK’s commitment and growing presence in the North of England by being a valued financial partner to the Northern innovation economy, which is made up of a diverse range of innovative technology and life science businesses throughout the region.

“Silicon Valley Bank has supported our growth plans and vision and we are pleased to announce this facility today to help make the best loved brand for UK holidaymakers”, ceo Richard Singer, said.

Richard Faulkner, Managing Director at Silicon Valley Bank’s UK Branch, said: “We’ve enjoyed working with and it has been great to be able to support them on this impressive journey of rapid growth and brand recognition.

“We look forward to a continued partnership with Richard and the rest of the icelolly team.”

Multichannel marketing plan 

The news follows launching a new multichannel marketing initiative on 26 December 2019. icelolly’s biggest ever campaign sees the company return to its core values by highlighting how easy it is for customers of all demographics to compare a wide range of holiday experiences and find a great value deal to suit their tastes, availability and budget.

All-new TV ads combine visually engaging footage alongside an animation of the app to illustrate how simple it is to search and compare holidays, hotels, city breaks and cruises, with the campaign extended across digital and social channels as well as significant OOH activity.